Cedar Rapids Bank & Trust Provides SBA Loan to Buy Jimmy John's Franchise

Borrowing money to invest in a Jimmy John's franchise? Cedar Rapids Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Jimmy John's franchise? If so, here's a 2007 SBA franchise loan that you should know about. Cedar Rapids Bank & Trust was the lender and the entrepreneur was based in Newport Beach, California.

SBA Loan Borrower

JIMMY JOHN'S
NEWPORT BEACH, CA 92662

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/10/2007

Loan Approval Gross Amount

$560,000

Loan Approval from the SBA

Of the total $560,000 loan amount, the SBA guaranteed $420,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 50 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cedar Rapids Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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